Mnuchin isn't blaming Fed for market rout

But it amounts to good news for the long-term direction of the economy.

Treasury Secretary Steven Mnuchin said Friday the USA economy remained strong and this week's decline in the stock market was "just a natural correction". Unemployment in September fell to its lowest rate in almost half a century.

The remarks are some of the most specific statements that senior Fed officials have given about when they anticipate halting their campaign of higher interest rates.

The Nasdaq has fallen 8.5 percent from its record closing high on August 29. As the rates rose, there would be a drop-off in demand for loans.

The weakness in the dollar and yields have helped to underpin lower-yielding and noninterest-bearing assets such as gold, which until yesterday had hardly responded to the recent stock market weakness. "It's reflecting the possibility that this recovery has further legs".

Yet the climb in interest rates also reflects an economy that's still managing to accelerate on the energy of an expansion in its 10th year - the second-longest such streak on record.

The yields of inflation-protected bonds have moved mostly in lock step with traditional bonds in recent weeks, suggesting that traders haven't become more anxious about inflation.

If the public doesn't believe the government is committed to keeping prices stable - because, say, an election is coming - businesses might start preemptively jacking up prices.

Despite a booming USA economy, low inflation and low unemployment, investors are concerned about rising bond yields that have been drawing money out of the stock market, and increased U.S. interest rates.

So, with higher interest rates and the higher cost of fuel at this point in time, the Fed had created a situation where the market can go into hibernation and just stay where it is for the next few years.

That may cause some heat for Powell, but it's unlikely to bother the financial markets. Now the Fed's own projections are consistent with the path of rate increases priced into markets. "So the Fed is taking its independent course", he said. But some estimate the neutral level could be higher in the short run according to reporting by the Wall Street Journal's Michael S. Derby.

Mnuchin declined to speculate on why investors might be becoming more anxious about the clash with Beijing. As big USA companies give updates in the coming weeks on how much they earned during the summer, investors will listen as CEOs say how much of an impact they're seeing from higher rates.

"The key issue is that when the president of the United States blatantly politicises the Fed, he makes it much harder for the Fed", Mr Summers said on CNBC. "The trend is clearly up, and the market is betting that will continue". So the jobs data might have suggested to the market that the Fed would accelerate its rate-hiking cycle, beyond one more in December and three more next year, as it implied in its policy meeting on September 26. Going back even further, it's another piece of evidence that the long run of declining interest rates, which began in the early 1980s, is over. If that doesn't justify a moderation of the markets' recent exuberance, what would?

Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages jumped to an average 4.90 percent this week from 4.71 percent last week.

Donald Kohn, who served for eight years on the Fed board, said he thought Trump's criticism would have no effect on Fed policy.

And markets, even deep and liquid ones like the bond market, aren't always right, and are frequently wrong. One is that USA bond yields are poised to soar.

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The man replied, "I never saw any bombs or bombers, but I'm a Turkish nationalist - to me, all Syrians are terrorists". The judge at Brunson's latest hearing sentenced him to time served and subsequently released him, Fox News reports .

Brent, the benchmark for more than half the world's oil, has touched Dollars 86 per barrel mark, the highest in four years. He said that Kerala would not reduce the tax on petroleum products as it would adversely affect the revenue of the state.

The maneuver potentially saved President Trump's family hundreds of millions of dollars in gift taxes, according to the Times . Harder, the White House, and the Trump Organisation did not immediately respond to a request for comment from Business Insider.

Melania Trump has said she has "much more important things to think about" than allegations that her husband has cheated on her. Mrs Trump said she loved her husband and that the media's coverage of their relationship was not always correct.

Masson believes Wednesday will be the prime day for activity, when the Florida Panhandle is hit by Michael. An Air Force hurricane hunter airplane was sent into the storm to investigate, the hurricane center said.

The National Weather Center in Jacksonville was not down-playing the effects on northeast Florida, including Flagler County. Based on the current forecast track, Michael would provide rain to our area from late Wednesday until early Friday morning.

What popped out was a planet called Kepler-1625b, a Jupiter-sized world that orbits a star around 8,000 light-years away. However, the star itself, as the team have ascertained from Kepler data, is so quiet they can't even detect its rotation.

Union Finance Minister Arun Jaitley spoke on the second day of the Hindustan Times Leadership Summit 2018. Diesel prices in the city however saw an effective decline of 70 paise, falling to Rs 76.75 per litre.

Hurricane Michael toll expected to rise
Charlotte, North Carolina's largest city, was expecting as much as six inches of rain and wind gusts exceeding 30 miles per hour . ABC News meteorologist Ginger Zee saw a devastating storm surge in Mexico Beach, Florida, topple a house from its foundation.

Google Pixel 3 XL Goes On Sale Before Official Launch
Google Home Hub , the upcoming smart display speaker that is based on Google Assistant , will be made available on October 22. Google is expected to show off its next flagship smartphone, the Pixel 3 and its bigger brother, the 3 XL, on October 9.

Feds test nationwide emergency alert system today
FEMA officials estimate almost 75 percent of all mobile phones in the country, including major carriers, will receive the alert. The Federal Emergency Management Agency is conducting a test of the Emergency Alert Systems and Wireless Emergency Alert .

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It comes with 4K Ultra HD, Dolby Vision and HDR10 + titles support, which will appeal to a lot of content viewers out there. The device can be pre-ordered effective immediately for$49.99, and will ship in the USA and Canada at the end of the month.